Wednesday, October 26, 2011

PMC-Sierra Posts Q3 Revenue of $173 Million, up 7% YoY

PMC-Sierra reported Q3 revenue of $173.3 million, a sequential increase of 1% compared with $171.0 million in the second quarter of 2011, and 7% higher than net revenues of $162.3 million in the third quarter of 2010. GAAP net income was $47.3 million, or $0.20 per diluted share, compared with GAAP net income in the second quarter of 2011 of $16.7 million, or $0.07 per diluted share.

“Our third quarter results were solid given the difficult economic environment,�? said Greg Lang, president and chief executive officer of PMC. “While macro concerns impact our near-term outlook, PMC is well-positioned to deliver the infrastructure required to support explosive traffic growth on storage, mobile and optical networks.�?